I want to start the first craptocurrency. Buttcoin. Everyone will be able to make it, and no electricity will be required. Just fiber. We can all eat fiber, make a few buttcoins each day, and be rich. That’s how it works, right?
Live, at 4 AM in New York, it’s Tuesday Morning. What’s on sale this week? This morning, everything.
The ES fucutures fell just a bit outside of the end of day 5 day cycle projection of 3975. The longer moving average that I use to run those fore…
Wake up.
Get out of bed.
Turn on your screen.
Your shorts are dead.
That said, this is barely a 50% retracement, which is at 3860 on the ES fucutures. There’s also resistance at 3855. Above 3860 resistance lines come at 5-7 point i…
Primary Dealers were holding record levels of inventory with record levels of leverage since late Q3 2019. It was all hunky dory as long as bond prices were rising, or at least stable. The mirror of that is yields falling, or stable.
Ever since then I regularly warned about this in my Liquidity Trader reports. I said that it’s a two way street, and that when the inevitable decline in Treasury prices started, it would devolve into big margin calls to the dealers.
The US Treasury announced today that it would inject another $30 billion into the markets, in an attempt to forestall systemic meltdown.
Bonds are crashing. Will stonks follow? My answer to that question since I began forecasting a bond crash months ago has been, Yes.
The question is when.
S&P futures are mounting another comeback attempt this morning in Europe, aided by $55 billion in quasi QE from the US Treasury yesterday, with another $41 billion coming tomorrow and $25 billion next Wednesday. Just one problem –of many– the money ain’t going where the Treasury wants it to.
And that is a catastrophic problem for our financial stability.
The Treasury will inject still more cash into the market, on top of the $96 billion it already staged last week. It announced on Tuesday…
In WW2, the Allies- US and Brits, bombed the crap out of the neighborhood where I currently live. Here’s a little background about my neighborhood. And speaking of bombing, take a look at this market in the wee hours this morning.
And shoulders over 3 weeks. Completed, and busted. The thing measures to about 3805. The 5 day cycle projection points to 3855-70. But there’s a fly in the bear’s ointment.